Prudential Financial Inc. boosted its stake in shares of Diamondrock Hospitality Company (NYSE:DRH) by 13.1% during the second quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 5,809,786 shares of the real estate investment trust’s stock after buying an additional 671,355 shares during the period. Prudential Financial Inc. owned about 2.90% of Diamondrock Hospitality worth $63,617,000 at the end of the most recent quarter.

A number of other institutional investors have also recently made changes to their positions in DRH. Meeder Asset Management Inc. purchased a new position in shares of Diamondrock Hospitality during the first quarter valued at about $116,000. Meadow Creek Investment Management LLC boosted its position in shares of Diamondrock Hospitality by 6.3% in the first quarter. Meadow Creek Investment Management LLC now owns 10,892 shares of the real estate investment trust’s stock valued at $122,000 after buying an additional 644 shares in the last quarter. Ronald Blue & Co. LLC boosted its position in shares of Diamondrock Hospitality by 1.0% in the second quarter. Ronald Blue & Co. LLC now owns 11,203 shares of the real estate investment trust’s stock valued at $123,000 after buying an additional 116 shares in the last quarter. Piedmont Investment Advisors LLC purchased a new position in shares of Diamondrock Hospitality during the first quarter valued at about $134,000. Finally, OLD National Bancorp IN purchased a new position in shares of Diamondrock Hospitality during the first quarter valued at about $142,000.

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Diamondrock Hospitality Company (DRH) opened at 10.72 on Monday. The firm has a 50-day moving average of $11.33 and a 200-day moving average of $11.19. Diamondrock Hospitality Company has a 12-month low of $8.73 and a 12-month high of $12.07. The stock has a market capitalization of $2.15 billion, a price-to-earnings ratio of 21.70 and a beta of 1.38.

Diamondrock Hospitality (NYSE:DRH) last released its quarterly earnings data on Monday, August 7th. The real estate investment trust reported $0.32 EPS for the quarter, beating analysts’ consensus estimates of $0.31 by $0.01. The business had revenue of $243.30 million during the quarter, compared to the consensus estimate of $240.73 million. Diamondrock Hospitality had a return on equity of 5.41% and a net margin of 11.47%. The firm’s revenue was up 1.2% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.31 earnings per share. Equities research analysts forecast that Diamondrock Hospitality Company will post $0.46 earnings per share for the current fiscal year.

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Several equities research analysts have commented on the stock. Zacks Investment Research lowered shares of Diamondrock Hospitality from a “buy” rating to a “hold” rating in a research report on Tuesday, June 13th. Canaccord Genuity restated a “buy” rating and set a $13.00 target price on shares of Diamondrock Hospitality in a research report on Friday, May 5th. Raymond James Financial, Inc. upgraded shares of Diamondrock Hospitality from a “market perform” rating to an “outperform” rating and set a $13.00 target price on the stock in a research report on Friday, July 14th. Finally, BidaskClub upgraded shares of Diamondrock Hospitality from a “hold” rating to a “buy” rating in a research report on Wednesday, June 14th. Three analysts have rated the stock with a sell rating, six have given a hold rating and six have assigned a buy rating to the company. Diamondrock Hospitality has an average rating of “Hold” and a consensus target price of $11.56.

In other Diamondrock Hospitality news, Director Maureen L. Mcavey sold 6,000 shares of the business’s stock in a transaction dated Monday, August 14th. The stock was sold at an average price of $11.20, for a total value of $67,200.00. Following the completion of the transaction, the director now directly owns 81,030 shares of the company’s stock, valued at $907,536. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Corporate insiders own 1.10% of the company’s stock.

Diamondrock Hospitality Company Profile

DiamondRock Hospitality Company is a real estate investment trust (REIT). As of December 31, 2016, the Company owned a portfolio of 26 hotels and resorts that contains 9,472 guest rooms located in 17 different markets in North America and the United States Virgin Islands. Its business is to acquire, own, asset manage and renovate hotel properties in the United States.

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